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Make 2012 the Year You Buy a Vero Beach Home

By
Real Estate Agent with Norris and Company

Make 2012 the Year You Buy a Vero Beach Home

Happy New Year! 

It is a great time to buy a home in Vero Beach.  Make 2012 the year that you buy your Vero Beach Home!  If you’re waiting to buy I home, I urge you to take a minute to consider the following benefits of buying now - there may not ever be a better opportunity than the one we presently face to purchase a home.

1. Affordability
Housing affordability is at a generational high and has been steadily stabilizing since the boom years of 2006. Affordability, as measured by the median mortgage payment as a percentage of median household income, continues on a downward trend - meaning Vero Beach home ownership is within reach for more Americans.

2. All-time low mortgage rates
Rates are reaching generational lows due to monetary policy and won’t stay there for long. If you take into consideration the decrease in home prices, you have good credit, and you can put money down on your Vero Beach home, buying now, instead of later, is a good option.

3. There are lots of deals
Recently, the National Association of REALTORS put total inventory at 4 million homes. Of those homes, nearly 40 percent are estimated to be foreclosures. These aren’t your run-down foreclosed upon homes, either. Unfortunately, many homeowners fell underwater on their mortgage due to the decline in the economy. As a buyer, you’re able to help them get out from under a Vero Beach home they can’t afford and into a home for a great price.

4. Sellers are ready to negotiate

When supply exceeds demand - which has been the case for some time now - buyers gain the upper hand in negotiations. Current supply of homes are up, which means that homes could potentially sit on the market for an extended period of time. If a seller needs to move quickly due to a job relocation, or because they can no longer afford their home, they’ll most likely compete for your business on a monetary level.

5. Ahh, the American Dream
As I’m sure you’ve heard, owning a home is one of the best investments you can make. It’s absolutely true. Even during the decline in the economy, a recent Fannie Mae study revealed that more than half of Americans still consider housing to be a safe investment! If you plan to stay in your home for several years - enough time for it to appreciate in value or more than five years - then there’s really never a BAD time to buy a Vero Beach home.

Warren Buffet, the great investor once said: “Be greedy when others are fearful and fearful when others are greedy.” Buying a home IS an emotional endeavor, and always takes careful planning and preparation. If you’re confident in your ability to purchase a home - don’t wait - demand always catches up with supply - after all - real estate is a cyclical business.

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